Investment Ideas: March 7, 2025 

Here is our report for today, March 7, 2025, with some insights into various investment opportunities.

Here are some key highlights:

• Bond Market Overview: Yields for dollar-denominated bonds range from 4.468% to 4.764%, with maturities spanning from 2026 to 2029. Meanwhile, peso-denominated bonds offer slightly higher yields, ranging from 5.680% to 5.950%, with maturities extending from 2025 to 2029.
• Stock Recommendations: Our team maintains an OVERWEIGHT stance on a grocery retailer, citing strong positioning in both premium and core markets amid improving consumer spending. We hold a NEUTRAL view on a telecommunications company to due to earnings misses and conservative revenue guidance. Meanwhile, we downgrade a property developer to UNDERWEIGHT as delayed central bank rate cuts and a sharp drop in residential presales create an overhang.
• Spotlight: SM Investments Corporation (SM) reported a 2024 full-year net income of PHP 82.6 billion, up 7% YoY, aligning with market expectations. 4Q24 profits rose 4.8% QoQ, driven by strong consumer sentiment and solid contributions from banking subsidiaries. Retail revenue growth remained robust, particularly in food and specialty store segments. However, with no clear catalysts on the horizon, a neutral stance is maintained for now.

Download our report here for details.

(Disclaimer: This is general investment information only and does not constitute an offer or guarantee, with all investment decisions made at your own risk. The bank takes no responsibility for any potential losses.)